25 May 2017, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation, yesterday, said it has
has established contacts with some Chinese investors to partner in its Research and Development, R&D, venture.
The NNPC in a statement in Abuja further outlined other non-core oil and gas sectors that are of interest to the NNPC to include healthcare, shipping as well as telecommunications.
Commenting on the development, Chief Operating Officer, NNPC Ventures, Mr. Babatunde Adeniran, disclosed that the response from the Chinese prospects had been favourable.
He said the need for seeking investments in this area was in view of the volatility in crude oil prices in the international market and the need to seek a fortune in the non-core oil sector to stay afloat.
He disclosed that there had been a low investment in Industry Research & Development in Sub-Sahara Africa, necessitating NNPC’s commitment to key in to maximize available opportunity in the sub-sector.
Adeniran further stated that in addition to the Chinese who were being invited to partner with NNPC in Research and Development, NNPC had also flung its dragnet wide open to let in American investors too.
Showcasing other investment opportunities, Adeniran said the NNPC had 52 clinics across Nigeria, a healthcare investment which he observed, fewer establishments could boast of.
He said, ”NNPC Medical is already talking to top class medical centres across the world for partnership. Billions of dollars went into medical tourism in Nigeria yearly. NNPC is poised to take advantage of the gaps in the healthcare delivery in Nigeria,” he said.
Adeniran enjoined oil companies worldwide to think outside the box to fix challenges currently plaguing the industry.
He said oil companies must re-think the essence of their business and their role in the value chain, while demonstrating astuteness in spotting and capturing business opportunities in ancillary services, among others.
He added that oil companies, at a time like this, must prioritize profitable growth to guard against dissipating valuable resources and energies on developing unprofitable assets, adding that the current situation in the industry also required that the workforces are flexible to navigate the new era of volatility.